Egypt, France airdrop aid to Gaza amid growing humanitarian crisis, global criticism of Israel    Supply minister discusses strengthening cooperation with ITFC    Egypt launches initiative with traders, manufacturers to reduce prices of essential goods    SCZONE chief discusses strengthening maritime, logistics cooperation with Panama    Egypt strengthens healthcare partnerships to enhance maternity, multiple sclerosis, and stroke care    Egypt keeps Gaza aid flowing, total tops 533,000 tons: minister    Egypt reviews health insurance funding mechanism to ensure long-term sustainability    Gaza on verge of famine as war escalates, ceasefire talks stall    Gaza crisis, trade on agenda as Trump hosts Starmer in Scotland    Egyptian president follows up on initiatives to counter extremist thought    Indian Embassy to launch cultural festival in Assiut, film fest in Cairo    Egyptian aid convoy heads toward Gaza as humanitarian crisis deepens    Culture minister launches national plan to revive film industry, modernise cinematic assets    Egypt will keep pushing for Gaza peace, aid: PM    I won't trade my identity to please market: Douzi    Sisi calls for boosting oil & gas investment to ease import burden    EGX to close Thursday for July 23 Revolution holiday    Egypt welcomes 25-nation statement urging end to Gaza war    Sisi sends letter to Nigerian president affirming strategic ties    Egypt, Senegal sign pharma MoU to unify regulatory standards    Two militants killed in foiled plot to revive 'Hasm' operations: Interior ministry    Egypt, Somalia discuss closer environmental cooperation    58 days that exposed IMF's contradictions on Egypt    Egypt's EHA, Huawei discuss enhanced digital health    Foreign, housing ministers discuss Egypt's role in African development push    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Nasr signs 4 agreements with AFD worth €259m
The finances are programmes that support the country's deficit for sectors of energy, sanitation, and healthcare
Published in Daily News Egypt on 27 - 03 - 2017

Minister of Investment and International Cooperation Sahar Nasr signed 4 agreements with the director of operations of the Agence Française de Développement (AFD), Laurence Breton-Moyet, which provide support for the sectors of energy, sanitation, and healthcare—worth a total value of €259m. The French ambassador to Egypt, André Parant, witnessed the signing.
Nasr said that the finances are divided into loans and grants, explaining that the first loan from the AFD is worth €175m for supporting the budget of the energy sector.
Nasr added that the money of the loan will be received by the Ministry of Finance, yet the electricity sector would be supported by an additional €3m as a grant that would be provided to the Ministry of Electricity and Renewable Energy to finance a technical programme.
The AFD will provide a financing package worth €31m for a project to support the quality of primary healthcare service in Egypt, which is the first of its kind by the AFD in the health and social sectors in Egypt. However, Nasr signed an agreement that provides a €50m loan to support the expansion of the East Alexandria wastewater treatment plant.
The energy loan is part of the international society's attempts to support Egypt's budget deficit. It also represents the second support from France announced by the French minister of finance. It will be financing the sector's strategy until 2035, which aims at developing the energy sector (gas and petroleum), rationalising energy consumption, diversifying the energy mix, and guaranteeing a sustainable energy service.
The financing package of the healthcare programme is divided into a €30m loan and a €1m grant, which was designed to improve the quality of service for more than 700 families in the Delta and Canal regions, by providing rehabilitation, equipment, and training.
According to the AFD, UNICEF has been requested to support the implementation of the community mobilisation activities in order to increase health awareness and use of primary healthcare services in the targeted areas.
Furthermore, the project of the wastewater treatment plant in Alexandria will entail the construction of a "sludge digestion unit" connected to the existing water treatment plant, which is the largest one in Alexandria, treating 800,000 cubic metres per day. The project is expected to start in the second half of 2017 after all contracts are finalised.
Nasr said that France, Germany, and the United Kingdom are the countries that promised to support Egypt's budget deficit, explaining that the government has already signed the deal with the UK, has now signed with France, and will be signing with Germany soon. Additionally, Nasr is set to visit Germany on Friday to discuss German support for Egypt.
From a different perspective, Minister of Health and Population Ahmed Emad El-Din Rady stated that the finances would be used to develop the health units in the Suez Canal area.
Moreover, Breton-Moyet stated that the AFD has been helping Egypt in financing lots of projects—worth a total value of €341.4m, in addition to €103m provided by the European Union and organised by the AFD.


Clic here to read the story from its source.